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2017SOUTH FLORIDARESIDENTIAL MARKET REPORT
FIRST QUARTER
F I R S T Q U A R T E R 2 0 1 7 C O N D O H I G H L I G H T S
Miami Beach Condos (All areas) posted 19%
FEWER sales. However, the Average Sale Price
increased to $1,670,000.
Longer marketing times were found with Days-On-Market
increasing for ALL market areas.
Miami Beach (South of Fifth only) had 25% fewer closed
sales with a 7% drop in Average Sale Price to $2,124,000.
Although the number of closed sales increased in Brickell, the
Average Sale Price dropped 12%.
The 25 sales in Bal Harbour had an Average Sale Price of
$2,675,000 and an Average $/SF of $898/SF.
The Average Sale Price in Coconut Grove increased 11%
to $1,204,000.
BROWN HARRIS STEVENS I MIAMI 3
FIRST QUARTER 2017
C O N D O M I N I U M S
F E AT U R E D P R O P E R T Y
SETAI, TH-A
MIAMI BEACH
Q1 2016 Q1 2017
# OF SALES 161 131 19%
AVERAGE PRICE $1,418,942 $1,670,038 18%
PRICE PER SQ FOOT $924 $931 1%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
122 171
BROWN HARRIS STEVENS I MIAMI 4
FIRST QUARTER 2017
C O N D O M I N I U M S
MIDTOWN/EDGEWATER MIAMI
Q1 2016 Q1 2017
# OF SALES 11 20 82%
AVERAGE PRICE $743,727 $824,075 11%
PRICE PER SQ FOOT $473 $415 12%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
130 161
PARAMOUNT BAY, #2601
F E AT U R E D P R O P E R T Y
BROWN HARRIS STEVENS I MIAMI 5
FIRST QUARTER 2017
C O N D O M I N I U M S
F E AT U R E D P R O P E R T Y
PARC LOFTS, #401
DOWNTOWN MIAMI
Q1 2016 Q1 2017
# OF SALES 44 10 57%
AVERAGE PRICE $740,012 $835,750 11%
PRICE PER SQ FOOT $508 $456 10%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
137 204
BROWN HARRIS STEVENS I MIAMI 6
FIRST QUARTER 2017
C O N D O M I N I U M S
F E AT U R E D P R O P E R T Y
JADE RESIDENCES AT BRICKELL BAY, #2305
BRICKELL
Q1 2016 Q1 2017
# OF SALES 44 52 18%
AVERAGE PRICE $1,005,040 $887,268 12%
PRICE PER SQ FOOT $554 $501 9%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
103 135
BROWN HARRIS STEVENS I MIAMI 7
FIRST QUARTER 2017
C O N D O M I N I U M S
FISHER ISLAND
Q1 2016 Q1 2017
# OF SALES 7 3 33%
AVERAGE PRICE $4,900,000 $6,433,333 228%
PRICE PER SQ FOOT $1,377 $1,514 33%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
105 234
BROWN HARRIS STEVENS I MIAMI 8
FIRST QUARTER 2017
C O N D O M I N I U M S
BAL HARBOUR
Q1 2016 Q1 2017
# OF SALES 22 25 14%
AVERAGE PRICE $1,461,995 $2,675,360 83%
PRICE PER SQ FOOT $642 $898 40%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
125 183
F E AT U R E D P R O P E R T Y
OCEANA BAL HARBOUR, #601
BROWN HARRIS STEVENS I MIAMI 9
FIRST QUARTER 2017
C O N D O M I N I U M S
SURFSIDE
Q1 2016 Q1 2017
# OF SALES 5 12 140%
AVERAGE PRICE $1,206,000 $970,958 19%
PRICE PER SQ FOOT $591 $554 6%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
72 106
SURFSIDE TOWER, #711
F E AT U R E D P R O P E R T Y
BROWN HARRIS STEVENS I MIAMI 10
FIRST QUARTER 2017
C O N D O M I N I U M S
F E AT U R E D P R O P E R T Y
JADE BEACH #1107
SUNNY ISLES
Q1 2016 Q1 2017
# OF SALES 62 48 23%
AVERAGE PRICE $1,270,485 $2,194,156 73%
PRICE PER SQ FOOT $670 $677 1%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
137 186
BROWN HARRIS STEVENS I MIAMI 11
FIRST QUARTER 2017
C O N D O M I N I U M S
AVENTURA
Q1 2016 Q1 2017
# OF SALES 70 55 21%
AVERAGE PRICE $955,639 $884,157 7%
PRICE PER SQ FOOT $394 $359 9%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
143 171
F E AT U R E D P R O P E R T Y
ONE ISLAND PLACE, #502
BROWN HARRIS STEVENS I MIAMI 12
FIRST QUARTER 2017
C O N D O M I N I U M S
COCONUT GROVE
Q1 2016 Q1 2017
# OF SALES 11 6 45%
AVERAGE PRICE $1,081,364 $1,204,355 11%
PRICE PER SQ FOOT $569 $474 17%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
74 287F E AT U R E D P R O P E R T Y
GROVE AT GRAND BAY, #602N
BROWN HARRIS STEVENS I MIAMI 13
FIRST QUARTER 2017
C O N D O M I N I U M S
KEY BISCAYNE
Q1 2016 Q1 2017
# OF SALES 32 27 16%
AVERAGE PRICE $1,636,211 $1,300,126 21%
PRICE PER SQ FOOT $778 $659 15%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
133 152
OCEAN CLUB – OCEAN TOWER TWO #1408
F E AT U R E D P R O P E R T Y
BROWN HARRIS STEVENS I MIAMI 14
FIRST QUARTER 2017
C O N D O M I N I U M S
CORAL GABLES
Q1 2016 Q1 2017
# OF SALES 17 15 12%
AVERAGE PRICE $1,307,176 $1,050,493 20%
PRICE PER SQ FOOT $468 $461 1%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
91 112
THE GABLES CLUB, #8G
F E AT U R E D P R O P E R T Y
F I R S T Q U A R T E R 2 0 1 7 S I N G L E FA M I LY H O M E H I G H L I G H T S
Miami Beach SFH’s (All areas) posted 5% FEWER sales.
However, the Average Sale Price increased to $3,082,000 and
the Average $/SF increased to $679/SF.
Miami Beach SFH’s (All areas) had average Days-On-Market
of 178 days as compared to 141 days last year.
The number of closed sales decreased in Coconut Grove,
while the Average Sale Price gained 9%.
The 103 sales in Coral Gables was nearly equal with prior
year and the Average Sale Price of $1,662,000 was also
essentially equal with prior year.
Miami Shores area posted INCREASES in the
number of sales, average sale price and average $/SF.
The Average Sale Price in Pinecrest was down 11% while
the number of sales increased 14%.
BROWN HARRIS STEVENS I MIAMI 16
FIRST QUARTER 2017
5344 LA GORCE DRIVE
S INGLE FAMILY HOMES
MIAMI BEACH
F E AT U R E D P R O P E R T Y Q1 2016 Q1 2017
# OF SALES 59 56 5%
AVERAGE PRICE $2,320,992 $3,082,367 33%
PRICE PER SQ FOOT $627 $679 8%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
141 178
BROWN HARRIS STEVENS I MIAMI 17
FIRST QUARTER 2017
S INGLE FAMILY HOMES
SURFSIDE
Q1 2016 Q1 2017
# OF SALES 9 6 27%
AVERAGE PRICE $1,279,611 $737,083 19%
PRICE PER SQ FOOT $465 $418 14%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
110 84
BROWN HARRIS STEVENS I MIAMI 18
FIRST QUARTER 2017
S INGLE FAMILY HOMES
SUNNY ISLES
Q1 2016 Q1 2017
# OF SALES 7 8 14%
AVERAGE PRICE $1,365,786 $1,114,525 18%
PRICE PER SQ FOOT $433 $432 0%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
108 80
BROWN HARRIS STEVENS I MIAMI 19
FIRST QUARTER 2017
S INGLE FAMILY HOMES
AVENTURA
Q1 2016 Q1 2017
# OF SALES 4 4 0%
AVERAGE PRICE $1,746,500 $939,375 46%
PRICE PER SQ FOOT $431 $343 20%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
62 224
BROWN HARRIS STEVENS I MIAMI 20
FIRST QUARTER 2017
S INGLE FAMILY HOMES
COCONUT GROVE
Q1 2016 Q1 2017
# OF SALES 18 14 22%
AVERAGE PRICE $1,574,514 $1,714,571 9%
PRICE PER SQ FOOT $468 $473 1%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
83 108
3635 FRANTZ ROAD
F E AT U R E D P R O P E R T Y
BROWN HARRIS STEVENS I MIAMI 21
FIRST QUARTER 2017
S INGLE FAMILY HOMES
KEY BISCAYNE
Q1 2016 Q1 2017
# OF SALES 9 4 56%
AVERAGE PRICE $4,621,944 $2,371,875 49%
PRICE PER SQ FOOT $1,120 $780 30%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
205 152
561 HAMPTON LANE
F E AT U R E D P R O P E R T Y
BROWN HARRIS STEVENS I MIAMI 22
FIRST QUARTER 2017
S INGLE FAMILY HOMES
CORAL GABLES
Q1 2016 Q1 2017
# OF SALES 106 103 3%
AVERAGE PRICE $1,668,051 $1,662,066 0%
PRICE PER SQ FOOT $425 $408 4%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
121 106
10950 OLD CUTLER RD
F E AT U R E D P R O P E R T Y
BROWN HARRIS STEVENS I MIAMI 23
FIRST QUARTER 2017
S INGLE FAMILY HOMES
MIAMI SHORES
Q1 2016 Q1 2017
# OF SALES 33 53 61%
AVERAGE PRICE $606,492 $657,444 8%
PRICE PER SQ FOOT $274 $290 6%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
81 105
1000 NE 72ND STREET
F E AT U R E D P R O P E R T Y
BROWN HARRIS STEVENS I MIAMI 24
FIRST QUARTER 2017
S INGLE FAMILY HOMES
PINECREST
Q1 2016 Q1 2017
# OF SALES 37 42 14%
AVERAGE PRICE $1,296,597 $1,151,327 11%
PRICE PER SQ FOOT $318 $297 7%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
111 147
12101 SW 62 AVENUE
F E AT U R E D P R O P E R T Y
BROWN HARRIS STEVENS I MIAMI 25
FIRST QUARTER 2017
S INGLE FAMILY HOMES
MIAMI LAKES ($350+)
Q1 2016 Q1 2017
# OF SALES 30 40 33%
AVERAGE PRICE $499,511 $493,216 1%
PRICE PER SQ FOOT $174 $198 14%
AVERAGE DAYSON MARKET 2016
AVERAGE DAYSON MARKET 2017
86 72
16181 W TROON CIRCLE
F E AT U R E D P R O P E R T Y
The quarterly statistics compiled for this report were obtained from the Southeast Florida MLS provided by the Miami Association of Realtors. The data was collected and examined by appraisers associated with Vanderbilt Appraisal Company, LLC. Except where noted, the data gathered was based on properties sold in the quarter with selling prices of $500,000 or more.
MIAMI • NEW YORK CITY • THE HAMPTONS • PALM BEACH
5TH & ALTON 1129 5TH Street, Miami Beach, FL 33139 t: 305.726.0100 CONTINUUM 40 S Pointe Dr, Suite 110, Miami Beach, FL 33139 t: 305.695.1111
COCONUT GROVE 2665 S Bayshore Dr, Suite 100, Miami, FL 33133 t: 305.666.1800
SOUTH MIAMI 7500 Red Road, Suite A, South Miami, FL 33143 t: 305.662.9975
KEY BISCAYNE 755 Crandon Boulevard, Key Biscayne, FL 33149 t: 305.361.6666